athenahealth, Inc. (ATHN) Receives $148.67 Average Target Price from Analysts
Shares of athenahealth, Inc. (NASDAQ:ATHN) have been assigned an average rating of “Hold” from the twenty-eight analysts that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $148.67.
A number of brokerages have recently commented on ATHN. UBS AG set a $123.00 price target on athenahealth and gave the company a “buy” rating in a research note on Monday, May 1st. SunTrust Banks, Inc. reissued a “buy” rating and set a $170.00 price target (up from $150.00) on shares of athenahealth in a research note on Wednesday, August 2nd. Cowen and Company lowered athenahealth from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $127.00 to $133.00 in a research note on Monday, July 31st. ValuEngine raised athenahealth from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Leerink Swann set a $140.00 price target on athenahealth and gave the company a “hold” rating in a research note on Friday, May 19th.
In related news, CFO Karl Stubelis sold 3,952 shares of athenahealth stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $138.98, for a total transaction of $549,248.96. Following the transaction, the chief financial officer now owns 21,810 shares of the company’s stock, valued at $3,031,153.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brandon H. Hull sold 800 shares of athenahealth stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $140.81, for a total value of $112,648.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,874 shares of company stock worth $2,102,697. 3.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC bought a new position in shares of athenahealth during the second quarter valued at about $713,856,000. BlackRock Inc. boosted its position in shares of athenahealth by 30,642.6% in the first quarter. BlackRock Inc. now owns 1,599,847 shares of the health services provider’s stock valued at $180,286,000 after buying an additional 1,594,643 shares during the last quarter. Morgan Stanley boosted its position in shares of athenahealth by 9.7% in the first quarter. Morgan Stanley now owns 4,514,305 shares of the health services provider’s stock valued at $508,717,000 after buying an additional 397,837 shares during the last quarter. Elliott Management Corp bought a new position in shares of athenahealth during the second quarter valued at about $52,706,000. Finally, Clearbridge Investments LLC boosted its position in shares of athenahealth by 61.8% in the first quarter. Clearbridge Investments LLC now owns 908,505 shares of the health services provider’s stock valued at $102,379,000 after buying an additional 347,133 shares during the last quarter.
Shares of athenahealth (NASDAQ:ATHN) traded up 1.58% during mid-day trading on Friday, reaching $141.48. The company’s stock had a trading volume of 278,902 shares. athenahealth has a 12 month low of $90.11 and a 12 month high of $158.66. The firm has a market cap of $5.65 billion, a PE ratio of 179.54 and a beta of 1.77. The company has a 50-day moving average of $142.43 and a 200-day moving average of $126.26.
athenahealth (NASDAQ:ATHN) last announced its quarterly earnings results on Thursday, July 20th. The health services provider reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.12. athenahealth had a return on equity of 6.91% and a net margin of 2.80%. The firm had revenue of $301.10 million for the quarter, compared to analyst estimates of $298.68 million. During the same period last year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts predict that athenahealth will post $1.91 earnings per share for the current year.
athenahealth, Inc provides network-based medical record, revenue cycle, patient engagement, care coordination and population health services. The Company also offers Epocrates and other point-of-care mobile applications. The Company delivers majority of its service offerings through a single instance of cloud-based software, athenaNet.
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